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Moody's, IMF welcome new Greek austerity measures

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FRANKFURT (MarketWatch) -- Moody's Investors Service and the International Monetary Fund offered praise on Wednesday for Greece's newly announced package of additional austerity measures. Moody's said the new measures "lend credibility" to the Greek fiscal adjustment plan and are consistent with Moody's current A2 rating, with a negative outlook, for Greece's government bonds. "These new measures are a clear manifestation of the government's resolve to regain control of public finances," said Sarah Carlson, senior analyst in Moody's Sovereign Risk Group and lead analyst for Greece. Separately, the IMF said the Greek authorities have put together "a very strong fiscal package for 2010," adding that the implementation of the fiscal program will be a crucial step forward in a multi-year process. Earlier on Wednesday, Greece announced a package of measures aimed at saving 4.8 billion euros, or 2% of gross domestic product.

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